New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-05-22
THENEW HALF-HOLIDAYLAW
HOW IT WAS OBSERVED YESTERDAY.

auspciousy here yesterday. 1t was more generally
observed than it's advocates had expected. This was
particularly true,of the Wholesale districts and the
lower portions of the city, where the measure
was adopted almost universally. Inc retail
trade did not get in line with the movement
as rule; but this scarcely disappoint-
ment TO many. Just now ~ about the Dusiest
time OF tie season with them, and they had
scarcely time to prepare for such radical change
None OF tho large bazaars closed although most Oh
them did exceedingly light trade during the latter
part OF the afternoon so light in fact that some OF
them closed at o'clock. They will probably all be
ready to observe the half-hoiday Dy the first OF the
month, II not next Saturday.
Downtown however, the holiday appearance oil
everything especially noticeable Business OF
every kind was almost practically stopped when the
Western Union time ball fell at noon and the great
exodus OF bankers, brokers, merchants, lawyers,
clerks, and pretty much everybody else began. Inc
weather on the side of the new law. Indeed,
the day could nave been better for the purpose
had 1t been made to order The. heat was oppressive
and more than one opponent OF the law was converted
into practical advocate OF the reform by thii inhu-
ence alone. There was a steady rush for the ferries,
the railways tho seaside resorts, from midday until
evening and the outgoing trans were Gro wded.
How completely the law was carried out downtown
may be inferred from the fact that over 90 per cent Oh
tho packages from uptown TO downtown Offices
returned because the places were closed IL
would DO impossible say just how many stores and
offices closed and how many got the hslf day TO
themselves hut a member OF the Executive Commit
tee OF the af-Holiday Association, who carefully
canvassed the city yesterday said last evening that
at least $4,000 people enjoyed the afternoon as
holiday. and that at least double that number VIII
enjoy the privilege next Saturday. The movement,
added, had been fai more successful than he had
anticipated and now the success OF the reform was
beyond the shadow OF doubt
Every place OF resort and amusement about the city
was crowded The Polo Grounds particularly
nd had jockey
race track been open it would undoubtedly have
reaped one OF its richest haryests.
All the city departments closed promptly at noon
and within five minutes thereafter tie employees had
lett their desks. The City Hall Park wore more the
aspect of Sunday than Saturday The MAJOR re-
NAMED In his Office until after l o'clock and then
went TO his house, where he to receive Queen
Kapiolani.
Sheriff Grant was rather puzzled over the question
whether he could serve process or make an arrest
on q civil proceeding after Saturday neon until Mon
day. Bonds can be taken at any time. lie has SUD-
mitted the question ABOUT which he is undo, lded g
the General Term OF the Supreme Court lie wishes
TO be fortified in advance with an opinion As an
officer OF the he has right to ask Tor such In
formation as he desires in this case.
The Observance of the hali-holday in Wall Street
was even more general than had been expected,
although the decision of tho Governing Committee TO
close the Stock Exchange ut noon was an assurance
that the brokers' offices would not be kept open long
after that boar. The appearance OF wall Street De-
fore the middle OF the Afternoon was not very differ
ert from that on holidays when the banks are Obliged
10 be OPEN Most Offices were closed and the only
signs OF activity were around the new buildings now
being put up. Tho banks were open. bat they were
doinr little business. The Government ohces were
omen of course for the Law does not apply to them.
In other respects Wall Street had lost its usually
bustIing character and nervOusly active and we'll
drc,.ed brokers were n spectacle on the street
The closing of the Stock Exc hange at noon was
Ito ina a Nna !
was not entirely satisfactory BY the ruling OF the
Governing Committee contracts made on Friday VIII
not he settled until tomorrow, while those maturing
Yesterday were settled Friday. In other words
there wero deliveries OF stocks yesterday ana the
entire business of Friday and OF the two hours yester
Aav will have 10 lie cleared tomorrow. No little
dissatisfaction with the arrangement was expressed
and probably some change Ia the rules VIII DC haIe
at the next regular meeting OF the Goyernors on
"wednesday Next week The business OF Friday can
not be settled until Tuesday becau,e Monday will he
legal holiday But In spite Of few little ineonven-
fences Wall Street Is disposed to accept the new law
ia "A proper spirit although IL complains that II VIII
Lnrt ,ts bu,ness The transactions at the Stock Ex
change were smaller and many firms said That tue
dulness was due TO the new law. No 80,
The brokerage hanks remained open until o'clock,
hut after 1890 they had nothing to do In one tank
a iull force of clerks received AMI PAID not over
| dozen checks in the last two hours ahd ha'' hn
| officer OF another prominent Wall street BANK saI
That n the sumner months the clerks were allOWeu
10 10 ve their desks at the earliest possible NONE nj
and that the law was not likely TO make much diner,
euce with the work In general. me banks l Sp
Yesterday that they would have little or no business
| after noon on Saturday. and Manager Can p OF me
Clearing House Association, said that ne hOped inc
| hanks in few weeks would be able to close by
'cock M ieas The weekly statement OF the assocl-
| ated banks was published about 10 minutes carrier
than usual but 1t was too late 10 nave any oneo' y"
| the market. . -. A.
This restaurants wero surprised In two ways at the
ncct of tne law The brokers waited until alter the
close OF business TO take their lunch OUT onop ore
| L. tnWu
was a rush between II and o'clock that has not
| been often equaed. The supply OF 1000 was Iue-
| onate 10 the unexpected demand, but the par was
less fortunate, for the mint had iun out soine '""'
before .
| Tn. Consolidated Stock and Petroleum Exchange
was cosel as regards business, at noon Inc III
ness done Ia the oil department was FULLY up TO the
halt OF the average done Tor several days past ou. wy
trading was professional and represented htte prom
TO the average run OF commssloh 1 ,Ss t11 bonrs
| trndlng against a fun OF dealings OF over iooo'ooo
barrels In the last few days when the business Vas
extended over five hours The OIL brokers "eno
nosed 10 take advantage of the cessation OF business
by getting out of town on early trans 1ue sone Is Is
them lin lored until nearly o'clock In oruer W sou
anv trou1I waa likely to developed at the petro
IN, orcbances In Pe1nsylvania Two years ago the
attempt of the Consolidated Exchange TO follow Tue
Stock Exchange in not opening araxs bv the PENN
ii1,n;a oil boards advancing prices about cents
r.r barrel before the New-York houses could peglh
trading At this ne tho oil spocualiom. WI ., th.
om and the western operators were IN control OF inc
speculation present the CperatoG sdg IN on ts aIf
| SinI in Tho hands OF New-York dealers. IL was
therefore et yesterday by tho oil brokers that they
might disperss early on Saturdays without tad *
| much risk of any radical change Deing en0'''" ~
| values at the Western exchanges. ,,,,.o, Ex
The stocK department of the CONSEQUENCES u, Tx he
| change was active 80 long the business coud pe s
i"afy carried on hut there bitter complaints at
The loss OF orders caused by the shutting Oh Oh threo
hours OF transactions. George L. 6loson' o, Of
& Gibson expressed the opinion OF many aJ ,ha
the Consolidated Exchange, when he denounceu .no
law as an outrage on people who wanted 10 ao
ness but were prevented from doing Py rn1vcon
ment He thought that It would curtain prouuorV '
and the creation OF wealth and would work INJURY 10
pe There had Sss snd 6e Of
iw nvouid he IN cause a virtual suspension OF tradhg
at the Exchanges when there We're 9st tS, nw